Zynga, the social gaming giant, is a proud member of the 2012 IPO class (NASDAQ:ZNGA) and though the stock has had a tumultuous first week, analyst agree that is simply the beginning.
The highly anticipated IPO undeniably saw a rocky start, losing 5% in its market open. But, investors hold on, it raised $1 billion, creating a $9 billion market value for the company, in the Internet’s biggest public offering since that of Google in 2004. Forbes writes, “by any reasonable business standard, especially in these dismal economic times, it is remarkable that a four-year old game company like Zynga can raise $1 billion, establishing a $9 billion market valuation. It illustrates that something fundamental, and big, lies beneath.”
For Zynga symbolizes innovation and stones still unturned as it pertains to economic and business opportunity. It may be a Silicon Valley operation but it is hardly describable as another “tech” company. Zynga demonstrates the diversity of opportunity in Cloud technology and internet business. San Francisco Haute 100 lister and CEO of Zynga, Marc Pincus, 45, told USA Today, “Zynga is the crowning achievement for my career. I wanted to build a company, products and culture that mattered. It is an extension of all of us.”
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